i witnessed business risk practices which made a mockery of citi credit policy. >> if you take an organization like citigroup, for example-- people involved in due diligence like richard bowen signaled up the line all the way up to robert rubin that something was wrong, that they were finding that some 60% of mortgages they were buying weren't meeting their standards. mr. bowen sent you an e-mail. >> narrator: in one exchange, the commission asked citibank's robert rubin to respond to bowen's e-mail. >> did you ever act on that? >> mr. chairman, i do recollect this and that either i or somebody else-- and i truly do not remember who-- but either i or somebody else sent it to the appropriate people. >> narrator: rubin told angelides that actions were taken to improve the bank's due diligence operations. but his recollections were vague. >> i certainly don't remember today whether i knew at the time or not. i truly don't. >> if the excuse at the top was, "we didn't know," that's a prty pr exse fm pele who are hauling down $10 million, $20 million, $30 million, or, in robert rubin's case, $115 mi